JPMorgan’s $9 Billion Witness Puts Government Testimony by Her Boss into Question | WHAT REALLY HAPPENED

JPMorgan’s $9 Billion Witness Puts Government Testimony by Her Boss into Question

Two years after attorney Alayne Fleischmann was downsized out of her job as a Transaction Manager at JPMorgan Chase, her boss, William Buell, was hauled before the Financial Crisis Inquiry Commission (FCIC) for interrogation on just how culpable the bank was in packaging and selling toxic mortgage backed securities.

Buell is the same man that Fleischmann exposed in a Rolling Stone feature article by Matt Taibbi last week as the recipient of her detailed, internal letter in early 2007, warning him that the mortgage pools her group was reviewing contained poor quality mortgage loans unfit for purchase or securitization. Despite the written warning, Fleischmann would later learn that JPMorgan, in a drive to boost market share and profits, went forward and purchased the pool, securitized many of the loans, then sold them to unsuspecting investors.

Webmaster's Commentary: 

There was a documentary produced about the 2008 melt-down called "Inside Job." It won the Oscar for best documentary then pretty much vanished from the American TV networks while the HBO movie "Too Big To Fail", which portrayed the Wall Street executives at the heart of the disaster as heroic figures struggling to deal with bad luck, was splashed across the cable channels. But as the above article illustrates, those Wall Street executives caused the collapse of 2008 by engaging in massive and deliberate fraud.

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